Inventory accountant vs fixed asset accountant

The differences between inventory accountants and fixed asset accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an inventory accountant and a fixed asset accountant. Additionally, a fixed asset accountant has an average salary of $59,691, which is higher than the $59,285 average annual salary of an inventory accountant.

The top three skills for an inventory accountant include reconciliations, financial statements and external auditors. The most important skills for a fixed asset accountant are fixed assets, reconciliations, and asset system.

Inventory accountant vs fixed asset accountant overview

	Inventory Accountant	Fixed Asset Accountant
Yearly salary	$59,285	$59,691
Hourly rate	$28.50	$28.70
Growth rate	6%	6%
Number of jobs	56,492	42,860
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 77%
Average age	44	44
Years of experience	4	4

What does an inventory accountant do?

An inventory accountant is in charge of overseeing and managing the costs involving a company's inventory operations. It is their duty to monitor transactions, update general ledgers, gather and analyze data, perform audits and assessments, and produce regular inventory reports. They must also observe and be alert for any inconsistencies and discrepancies, dealing with them according to the policies and regulations. Moreover, an inventory accountant must maintain an active communication line with staff for a smooth and efficient workflow.

What does a fixed asset accountant do?

A fixed asset accountant is responsible for processing statement reports for the company's assets, organizing account records, and handling bank reconciliations and disputes. Fixed asset accountants must have excellent knowledge of the accounting principles to determine and track the assets dispositions in various accounting systems for reference. They also ensure the accurate balance and calculate the value of all fixed assets for reports. A fixed asset accountant should be highly analytical to measure asset obligations and provide recommendations for asset acquisition.

Inventory accountant vs fixed asset accountant salary

Inventory accountants and fixed asset accountants have different pay scales, as shown below.

	Inventory Accountant	Fixed Asset Accountant
Average salary	$59,285	$59,691
Salary range	Between $46,000 And $76,000	Between $46,000 And $76,000
Highest paying City	San Francisco, CA	New York, NY
Highest paying state	California	New York
Best paying company	RH	Apple
Best paying industry	Energy	Energy

Differences between inventory accountant and fixed asset accountant education

There are a few differences between an inventory accountant and a fixed asset accountant in terms of educational background:

	Inventory Accountant	Fixed Asset Accountant
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 77%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Inventory accountant vs fixed asset accountant demographics

Here are the differences between inventory accountants' and fixed asset accountants' demographics:

	Inventory Accountant	Fixed Asset Accountant
Average age	44	44
Gender ratio	Male, 50.6% Female, 49.4%	Male, 43.8% Female, 56.2%
Race ratio	Black or African American, 8.9% Unknown, 4.0% Hispanic or Latino, 11.2% Asian, 12.1% White, 63.4% American Indian and Alaska Native, 0.5%	Black or African American, 8.4% Unknown, 4.0% Hispanic or Latino, 10.7% Asian, 13.0% White, 63.4% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between inventory accountant and fixed asset accountant duties and responsibilities

Inventory accountant example responsibilities.

Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Collaborate with external CPA firm in recording accumulate amortization/depreciation and extend tax returns.
Provide monthly consignment inventory balances to customers, roll-forward reports and reconciliations for goods in transit.
Perform both wire and ACH transfers on a weekly basis.
Prepare checks, including ACH transactions, wire transfers, web payments.
Review and verify paperwork for all vehicle purchases to satisfy SOX and internal audit procedures and standards.

Fixed asset accountant example responsibilities.

Lead the discussions on the level of asset componentization with respect to compliance IFRS standards.
Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Monitor purchase orders and calculate month-end accruals.
Support internal and external audit requirements and verify SOX documentation.
Calculate and reconcile deferred rent liability accruals for office leases.
Set up a consolidate and centralize SOX depository for require documentation.

Inventory accountant vs fixed asset accountant skills

Common inventory accountant skills

Reconciliations, 11%
Financial Statements, 4%
External Auditors, 4%
Internal Controls, 4%
Account Reconciliations, 4%
GAAP, 4%

Common fixed asset accountant skills

Fixed Assets, 16%
Reconciliations, 8%
Asset System, 6%
GAAP, 5%
Financial Statements, 4%
Account Reconciliations, 4%

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Inventory Accountant vs Fixed Asset Accountant

Updated January 8, 2025

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